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  • #664,301
  • Jul 3, 2012 3:45am Jul 3, 2012 3:45am
Quoting purzel
Inverted Head and Shoulder and bull flag on the 5 min chart. already triggered
I use 15min chart, am seeing possible to more down move, at least 1.2540, what you thinking?
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #664,302
  • Jul 3, 2012 3:46am Jul 3, 2012 3:46am
its damm so boring. are we getting out of this monthly range

1.2500 to 1.2692.
  • #664,303
  • Jul 3, 2012 3:48am Jul 3, 2012 3:48am
if there's anything i have learnt from trading, it is that i should never "marry" a market sentiment..if i see bulls, i buy...if i see bears, i sell...that's me

right now, my sentiments are still very BULLISH..but what do i know..

trade smartly
It is possible to make large sums trading, small losses, large wins
  • #664,304
  • Jul 3, 2012 3:48am Jul 3, 2012 3:48am
Quoting KiNgEdwarD
i have a buy open at 1.2601,should i close it,a suggestion wants from voucher member only ,thanks

what did you do?
  • #664,305
  • Edited 3:54am Jul 3, 2012 3:53am | Edited 3:54am
Quoting MaxDoom
what did you do?

I hope he didn't think we were being mean and go away... that wasn't our intentions... (most of us anyway)

I liked your advice but I wasn't going to tell what do with his money especially when he was already underwater by more than he should have risked given the price target.
  • #664,306
  • Jul 3, 2012 3:54am Jul 3, 2012 3:54am
Quoting KiNgEdwarD
i have a buy open at 1.2601,should i close it,a suggestion wants from voucher member only ,thanks
its your money. Know your risk and patience level. You just had a chance to close it few minutes ago, if you think u make a poor entry.
  • #664,307
  • Jul 3, 2012 4:01am Jul 3, 2012 4:01am
Quoting sukkim
I use 15min chart, am seeing possible to more down move, at least 1.2540, what you thinking?
We are currently at the monthly pivot point, daily 20 SMA and August 2010 low. If EUR/USD is able to hold the current support these days (possible bull flag on daily) then we could have some follow through of Fridays strong candle. If market is falling below the support level then more downside is likely (possible bear flag on the hourly/4 hour chart, consolidation at support (respecting) before resuming the down trend). The hourly low of 1.2553 might be the first downside target.

So it depends how market is behaving around the current support zone
  • #664,308
  • Jul 3, 2012 4:02am Jul 3, 2012 4:02am
Quoting KiNgEdwarD
i have a buy open at 1.2601,should i close it,a suggestion wants from voucher member only ,thanks
126 Is not a bad long position.
Price is consolidating so far this
week after last weeks end of good
news.

Bit of patience and you we may
see a 128 attack after the rate
decision Thursday and NFP Friday.
rat
  • #664,309
  • Jul 3, 2012 4:04am Jul 3, 2012 4:04am
good day,

Closing long here @ 1.2596. We have possible bearish divergence on 4hr - not gonna risk it.

Regards
  • #664,310
  • Jul 3, 2012 4:07am Jul 3, 2012 4:07am
Quoting purzel
We are currently at the monthly pivot point, daily 20 SMA and August 2010 low. If EUR/USD is able to hold the current support these days (possible bull flag on daily) then we could have some follow through of Fridays strong candle. If market is falling below the support level then more downside is likely (possible bear flag on the hourly/4 hour chart, consolidation at support (respecting) before resuming the down trend). The hourly low of 1.2553 might be the first downside target.

So it depends how market is behaving around the current...
Yes, I was based on 15min chart, looking lower high at 1.2600-1.2610 zone which better for scalp short with the stop loss at break even. Thanks for your overalls view point.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #664,311
  • Jul 3, 2012 4:21am Jul 3, 2012 4:21am
Head and shoulders pattern on 15min chart. Just about breaking the neckline. Short.
  • #664,312
  • Jul 3, 2012 4:21am Jul 3, 2012 4:21am
Quoting sukkim
Yes, I was based on 15min chart, looking lower high at 1.2600-1.2610 zone which better for scalp short with the stop loss at break even. Thanks for your overalls view point.

Ok.I normally do not use 15 min chart. The Euro is currently consolidating at key support and is not able to bounce away from it which is most often a bearish signal/eroding support. Maybe price is going to penetrate the monthly pivot. The question will be whether it will be confirmed.

Currently it is hard to say what will happen. The consolidation at the 1 hour and 4-hour chart looks a bit bearish but maybe its only because everyone is waiting for friday. The question is whether the key support will hold.
Good luck for your setup.
  • #664,313
  • Jul 3, 2012 4:40am Jul 3, 2012 4:40am
Quoting purzel
Ok.I normally do not use 15 min chart. The Euro is currently consolidating at key support and is not able to bounce away from it which is most often a bearish signal/eroding support. Maybe price is going to penetrate the monthly pivot. The question will be whether it will be confirmed.

Currently it is hard to say what will happen. The consolidation at the 1 hour and 4-hour chart looks a bit bearish but maybe its only because everyone is waiting for friday. The question is whether the key support will hold.
Good luck for your setup.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #664,314
  • Jul 3, 2012 4:51am Jul 3, 2012 4:51am
Quoting rsmith911
Head and shoulders pattern on 15min chart. Just about breaking the neckline. Short.
cant find the head, neither the shoulders. But I agree with the direction.
"Study the past if you would define the future." Confucius
  • #664,315
  • Jul 3, 2012 4:52am Jul 3, 2012 4:52am
I prefer to wait till 1.2545 or 1.2525

Quoting 5percent
its your money. Know your risk and patience level. You just had a chance to close it few minutes ago, if you think u make a poor entry.
  • #664,316
  • Jul 3, 2012 4:54am Jul 3, 2012 4:54am
Quoting purzel
Ok.I normally do not use 15 min chart. The Euro is currently consolidating at key support and is not able to bounce away from it which is most often a bearish signal/eroding support. Maybe price is going to penetrate the monthly pivot. The question will be whether it will be confirmed.

Currently it is hard to say what will happen. The consolidation at the 1 hour and 4-hour chart looks a bit bearish but maybe its only because everyone is waiting for friday. The question is whether the key support will hold.
Good luck for your setup.
I had read your blog. It's pretty I love.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #664,317
  • Jul 3, 2012 4:56am Jul 3, 2012 4:56am
Quoting Crassius
Italy's Monti is also due at the microphone soon -- he will most likely also paint a rosey picture and sing the praises of the 19th and counting Euro Summit -- all to talk down his bond yields -- also to be taken with a grain of salt
Monti is speaking now -- it will be all fluff
  • #664,318
  • Edited 5:02am Jul 3, 2012 5:00am | Edited 5:02am
EU's Van Rompoy says individual states can not block ESM bond buying -- he means Netherlands and Finland can not block bond buying as they claimed yesterday --- starting the swing low

In line with earlier Spanish comments -- supportive of Euro
  • #664,319
  • Jul 3, 2012 5:01am Jul 3, 2012 5:01am
Quoting Crassius
Monti is speaking now -- it will be all fluff
I hope he wont paint a rosey picture.
"Study the past if you would define the future." Confucius
  • #664,320
  • Jul 3, 2012 5:08am Jul 3, 2012 5:08am
Quoting littlemole
I hope he wont paint a rosey picture.
Haaaa....... Torres.... see you again....
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